This paper presents an analysis of gender patterns in intrahousehold allocation of resources based on household-level consumption data. Invoking the assumption that households seek to equalize the marginal utility of wealth when they allocate resources over the life-cycle, the paper provides a...

The financial crisis and the role played within it by fluctuations in house prices has reopened the debate about whether monetary policy should respond to asset prices. This paper investigates how the central banks of the euro area, the UK and the US considered, understood and responded to the...

Explanations of why the monetary authorities in different countries seem to smooth interest rates have focused on the official dislike of financial market volatility, aspects of the decision-making process, responses to uncertainty, inertial behaviour in a forward-looking environment, and serial...